The European Commission is taking action to ensure companies develop sustainable corporate governance models and supply chains, reporting publicly on the environmental, social and human rights impacts of business activities and on measures they are putting in place to achieve responsible business conduct. Its initiatives will impact on companies based or operating in the EU as well as on those exporting to the EU from third countries.
Three proposals are expected in the second quarter of 2021: a revision of the Non-Financial Reporting Directive; a proposal on sustainable corporate governance; and on minimising the risk of deforestation and forest degradation associated with products placed on the EU market.
This Hume Brophy briefing provides insights into the key elements of the three planned initiatives and looks their potential impact on business stakeholders.